Securing cryptocurrency in the status of property in Russia

A major achievement of the Russian authorities in the field of crypto regulation has been the recognition of digital currencyproperty. This is the opinion of Vitaly Mankevich, head of the Russian-Asian Union of Industrialists and Entrepreneurs.

Now holders of bitcoin and other cryptocurrencies will be able to obtain legal protection, the RIA Novosti agency quotes the expert.

Mankiewicz recalls that recently in Russia the scale of activity of financial pyramids has increased sharply.

To attract the organizers of such fraudulent schemes toresponsibility is very difficult, since there is still no crypto regulation in our country. The creators of pyramid schemes have begun to attract funds in digital assets more often in order to avoid punishment.

As soon as the legislation on the cryptosphere comes into force, the supervisory authorities will be able not only to ensure the protection of token holders, but also to bring the organizers of the pyramids to justice.

Mankevich also added that the adoption of cryptocurrency legislation will help fight money laundering and various corruption schemes that use tokens.

Let us recall that the law on regulating relations incrypto sphere will come into force on January 1, 2021. Last week, deputies of the State Duma adopted this document in the third and final reading. It is expected that another law “On Digital Assets” will be adopted in the fall; it should spell out all the regulatory standards for Bitcoin and other cryptocurrencies.

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